I've been thinking about this again. My original IVA was set up with Debtmatters which was subsequentlly taken over by Payplan two years ago and they in turn had a creditors meeting and without my knowledge 'fatcatted' themselves with a 15% deal. Surely my liability for that 15% compound 'surcharge'...

Thanks Liamjames, why on earth would my IVA be wanting future fees when they wouldn't be doing any more work? I am strongly getting the feeling that I would've been better off not getting into an IVA in the first place as the 'compound' interest of 23% (Statutory & Supervisors fee) is higher than wh...

Hello All, I'm in the fortunate position to close my IVA early due to a windfall I've received. Having spoken to my Supervisor they have sent me details of the final payment, listed below, they require from me which I find totally confusing. Unsecured creditors 20,749.04 Statutory interest 6,998.96 ...

I'm still very confused as to how the 25% sup fee is applied and paid for. Am I correct in my assumption that if the original IVA went it’s full course that PayPlan had agreed with the creditors that the 25% sup fee is what their ‘cut’ would be as recompense for their labours. In effect a contract e...

Thank you again Melanie at least you've identified the additional charges declared. I am somewhat surprised that changes can me made to my original proposal without my knowledge or input but obviously at my cost. Just goes to show that actually being honest I get penalised and expected to pay for ev...

The things I can't really fathom are what all the other 'additional' costs are. Within my IVA proposal the Nominee fee is £3,210, which is correct but the Supervisor's Remuneration ‘should be on a flat fee basis of £20 per month plus VAT over the duration of the arrangement’ so what is the £4,040.26...

Thank you all particularly Melanie. Apart from the rather dubious arithmetic I also have other doubts regarding terms etc. as my original IVA was with Debt Matters which was taken over by PayPlan in the second year. Who would be the best people to talk the whole scenario through with, Citizen Advice...

My partner and I have been in joint IVA’s for the past four years. I am now fortunately expecting a sizeable windfall which should be adequate to cover our original debts of £29,000. I obviously notified my IP of the situationand requested how much I now need to pay from my expected windfall. Howeve...